Money is a churner, and often takes absurd proportions. To keep a check on its unaccounted growth, regulations are needed at all points. Each country has a financial department to keep a tab on the liabilities and assets of its commercial operators. And wherever need be, they impose regulatory reforms to keep things under control.

There is a limit imposed on disinvestment; request of transparency to the banks regarding their actual assets and other reforms. These reforms not only have a huge impetus in settling things, these are also backed by legal powers to ensure no laundering. Intentional evasion of taxes is on their latest agenda, and sooner rather than later, a regulation is going to be announced on that regime.

WTO, World Bank and IMF keep evaluating financial status of countries and domains, and advising on certain strictures to be run in certain areas. To that aspect, regulatory reform is a traffic police job.

Banks lose a lot of money owing to various credit defaults. To compensate for it, they levy many subtle charges on an unsuspecting payer. This can be interest on credit card overdue, Interest on card figures unpaid past due date, Interest on failed loan payments, bounce charges from both sides, (lending agency and bank which is the ECS clearance system), and late fee on various grounds and so on.

In few of such transactions, banks exploit us within the legal perimeter. At some places, banks play it shady knowing that a layman cannot have such great banking know-how.

You can write to a bank and ask for a waiver. This is after you telephonically request to do so. Next, you can look to intimidate them with account closure. Most banks would agree to you if you have the right set of negotiating skills. As a last resort, you can also threaten with the grievance cell or consumer court. Prior to applying the last process, make sure that you are completely on the correct side.